And you also have to weigh the potential for getting caught. There's very little likelihood of ever being caught stripping DRM for your own use.

Frankly, I don't see the point of laws like this, they are unenforceable. What are they going to do, set up "check points" for people carrying e-readers, phones and tablets? And how, at a glance would they know if an ebook would have had DRM stripped or not?

As you say, most who strip will simply go on doing so, since the odds of being caught are long indeed.